AI compute, memory and networking companies
Chips, memory, optics and switches sold into the build-out. Capital spending and cash flow of the chip, foundry, memory, networking and optical suppliers to the build-out, from their filings.
Capital spending, four quarters$56.3B+40.9% against the four before
Capital spending, latest quarters$19.8BSum of each company’s latest quarter
Spend as share of cash flow22%Latest reported quarters combined
Companies9Public companies with structured filings
| Layer | Trend | Period ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| MicronMU | Compute, memory and networking | $11.1B | $30.7B | +93.7% | $44.0B | $32.9B | 25% | — | Sep 2026 | |
| IntelINTC | Compute, memory and networking | $4.0B | $13.7B | −19.4% | $5.1B | $1.1B | 79% | −$2.2B | Sep 2026 | |
| NvidiaNVDA | Compute, memory and networking | $2.7B | $7.4B | +46.7% | $24.1B | $21.4B | 11% | +$24.9B | Jul 2026 | |
| AMDAMD | Compute, memory and networking | $808.0M | $1.7B | +101.1% | $2.4B | $1.6B | 34% | +$1.0M | Jun 2026 | |
| BroadcomAVGO | Compute, memory and networking | $532.0M | $1.3B | +146.1% | $14.2B | $13.7B | 4% | −$5.5B | Aug 2026 | |
| CoherentCOHR | Compute, memory and networking | $555.7M | $1.1B | +150.2% | $69.5M | −$486.2M | 800% | +$29.5M | Jun 2026 | |
| CienaCIEN | Compute, memory and networking | $80.0M | $240.3M | +34.3% | $196.3M | $116.3M | 41% | +$1.7B | Aug 2026 | |
| AristaANET | Compute, memory and networking | $29.7M | $151.3M | +110.7% | $1.1B | $1.1B | 3% | — | Jun 2026 | |
| Astera LabsALAB | Compute, memory and networking | $20.5M | $59.0M | +52.5% | $87.7M | $67.2M | 23% | — | Jun 2026 |
Four-quarter figures are the latest four reported quarters; the change compares the four before. Company-wide cash capex, not AI-only spending. Reporting periods vary. Debt change is the quarterly change in the long-term balance, not cash borrowing. Definitions and methodology
Is a chip supplier’s capex the same as AI chip demand?
No. A supplier’s capital spending measures investment in its own fixed assets. It does not measure customer spending on its products. Fabless chip designers and companies with manufacturing facilities can have very different capital requirements.